Most trucking companies have to allocate several people and spend several productive hours to draft IFTA reports. The clerical work that comes with generating IFTA reports may reduce business productivity, as hours and hours have to be spent on this specific task. IFTA calculation is a tiresome, complex, and time-consuming task for companies when they are not using an IFTA calculator. 

In fact, calculating IFTA reports is still a major challenge for several companies mainly because it requires a considerable amount of resources, effort, and time. However, calculating IFTA reports doesn’t have to be tricky and time-consuming anymore. The complicated process can be easily done with the help of a fleet management system or IFTA Software. 

Generating IFTA Reports With OTS

It might come as a surprise to many readers when they hear that fleets that are using the IFTA fuel tax software of OTS will be able to generate IFTA reports within a few minutes. In fact, the entire process of generating IFTA reports with the software can be completed in a couple of easy steps. 

So, the good news is that you will be able to simplify the process of calculating IFTA reports by using the IFTA fuel tax calculator. The automatic IFTA reports that you will be able to generate through the software system will help you to save money, boost efficiency, and cut down the administrative burden. 

How It Works 

The IFTA fuel tax software offered by OTS will make it really easy for you when you are trying to track the fuel and miles covered per state. The software represents states with fancy graphs that will make it simple for you to gain insight from the data. The software will also serve the crucial function of helping trucking companies to ensure that the report is accurate. 

The automated IFTA rate updates offered by the software will help businesses to function a lot more effectively. The software is incredibly easy to use, which means that even the ones with minimum technical knowledge will be able to make full use of the software with ease. Apart from that, users will be able to access the software on any device, which can be connected to the internet. 

It is crucial to note relying on other types of software application may not be a good idea. This is mainly because using these software systems may increase the chance of losing information. In some cases, it may cause damage to the disks or even PC. You will need not have to worry about anything like that when you are using OTS IFTA fuel tax software. 

Why You Should Send IFTA Reports 

Several trucking company owners who are not familiar with IFTA reports may be probably wondering why you should send IFTA reports. The simple reason is that trucking companies who prefer not to send IFTA reporting may end up in serious trouble. For starters, not delivering the IFTA reports as requested will be considered as a type of tax evasion. 

In some cases, failure to submit the IFTA reports may result in penalties or your company may also be shut down. Trucking companies who are late in submitting IFTA records are usually fined ten percent of their entire tax due along with the returns or 50 dollars. Trucking companies have to pay money based on which one of the above-mentioned is higher. 

What Are IFTA Tax Rates 

If you are new to the world of IFTA tax reporting, you may be probably wondering what the IFTA tax rates are. The IFTA tax rates may significantly vary based on the provenance or state from where you are buying fuel. However, you will not have to worry about that because our software will help you to easily and accurately calculate everything required for IFTA reporting. 

Final Thoughts 

The IFTA calculation process is not just complex or complicated, but it is also very prone to inconsistencies and errors. However, you will be able to ensure that there are no inconsistencies and errors in your IFTA report by using a IFTA fuel tax calculator software. Along with helping you get accurate IFTA reports, the software also helps you to save time and resources that you will need to spend to prepare the report manually. This will make sure that your business doesn’t lose productive hours.